Thursday evening (GMT) saw the start of the crypto market slide. Of the top 100, excluding stablecoins, only Safemoon, Leo, and BitTorrent managed to stay green over the last 24-hours.
Source: CoinGecko.com
Before the slide, the total crypto market cap was valued at $2.029 trillion. Over the course of the night and into the early hours of Friday, a brutal sell-off ensued, wiping $200 billion from cryptocurrency valuations.
Source: CoinMarketCap.com
The Fear & Greed Index dropped five sentiment points, moving from 24 yesterday to 19 today.
Social media chatter reveals a mix of rallying cries to hold strong, including talk of this being the last opportunity to buy Bitcoin under $40,000. In contrast, others say this is the start of an enduring bear market.
Either way, what’s behind this latest drop?
Investors flee crypto and tech stocks, again
The crypto sell-off coincided with the Nasdaq dropping 1.3% to close at 14,846.46, marking a 14-week low for the tech-heavy index.
In recent
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